The US makeup market grew by 6 per cent from 2001 to 2006 (at a constant rate that takes inflation into account), totalling $6bn in sales last year, according to market information provider Mintel.
This dynamic growth reflects the fact that specific areas of this segment are growing faster than others, namely products that incorporate natural and anti-aging products in increasingly sophisticated ways.
According to the information provider, makeup brands claiming to promote youthful skin added $39 million of growth in the FDM category from 2004-2006, as more and more women shift towards combining their color makeup routine with anti-aging treatment.
In this bracket, major companies such as L'Oreal, Maybelline and Revlon have introduced signature anti-aging lines. These have nearly tripled their combined sales, growing from $22 million to $61 million in the last two years.
The Mintel data shows that currently more than 40 percent of respondents wear makeup with anti-aging ingredients, indicating just how popular this type of combination product has become.
"Women continue to search for the fountain of youth, and the anti-aging sector has expanded significantly to cater to this need," said Kat Fay, senior analyst for Mintel.
"This particular segment has grown because products are more area specific, which helps the consumer narrow the field of choices. Because Boomer women cover three different decades, formulations must serve a variety of expectations from tightening skin to reducing fine lines."
However, simply marketing a makeup product as being anti-aging is not the key to success.
This was underlined by Revlon's Vital Radiance launch at the end of 2005 - a makeup line aimed at older women but one that many industry experts believe was not marketed in the right manner.
The failed line cost the company tens of millions in costs and led to the implementation of a significant restructuring plan to get it back on track.
Likewise, natural makeup products are also proving increasingly popular. According to Mintel, more than 200 new introductions were debuted in this category so far this year, tapping into the 40 per cent of consumers who say they prefer natural-based makeup products.
"As consumers increasingly embrace natural and organic foods in the grocery store, health and beauty items will also mirror this trend," said Fay.
"Women are paying closer attention to what they eat, as well as what beauty products they choose. Natural products are associated with the 'good-for-you' movement, and hold major potential for marked growth."